Market Cap : 15.15 B | Enterprise Value : 13.02 B | PE Ratio : 72.53 | PB Ratio : 4.81 |
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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Warning Sign:
Beneish M-Score -1.44 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Pinterest's Beneish M-Score or its related term are showing as below:
During the past 5 years, the highest Beneish M-Score of Pinterest was -1.44. The lowest was -5.48. And the median was -2.39.
The historical data trend for Pinterest's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Internet Content & Information subindustry, Pinterest's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Interactive Media industry and Communication Services sector, Pinterest's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Pinterest's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Pinterest for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 0.9022 | + | 0.528 * 0.9859 | + | 0.404 * 4.914 | + | 0.892 * 1.2109 | + | 0.115 * 1.39 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 0.9494 | + | 4.679 * -0.1328 | - | 0.327 * 1.1821 | |||||||
= | -1.44 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun22) TTM: | Last Year (Jun21) TTM: |
Total Receivables was $511 Mil. Revenue was 665.93 + 574.885 + 846.655 + 632.932 = $2,720 Mil. Gross Profit was 501.034 + 428.815 + 705.407 + 506.149 = $2,141 Mil. Total Current Assets was $3,246 Mil. Total Assets was $3,694 Mil. Property, Plant and Equipment(Net PPE) was $284 Mil. Depreciation, Depletion and Amortization(DDA) was $30 Mil. Selling, General, & Admin. Expense(SGA) was $1,046 Mil. Total Current Liabilities was $351 Mil. Long-Term Debt & Capital Lease Obligation was $193 Mil. Net Income was -43.076 + -5.281 + 174.699 + 93.996 = $220 Mil. Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil. Cash Flow from Operations was 120.068 + 213.389 + 211.772 + 165.742 = $711 Mil. |
Total Receivables was $468 Mil. Revenue was 613.21 + 485.23 + 705.617 + 442.616 = $2,247 Mil. Gross Profit was 485.391 + 351.76 + 576.594 + 329.772 = $1,744 Mil. Total Current Assets was $2,664 Mil. Total Assets was $2,886 Mil. Property, Plant and Equipment(Net PPE) was $196 Mil. Depreciation, Depletion and Amortization(DDA) was $30 Mil. Selling, General, & Admin. Expense(SGA) was $910 Mil. Total Current Liabilities was $237 Mil. Long-Term Debt & Capital Lease Obligation was $122 Mil. |
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
= | (511.468 / 2720.402) | / | (468.181 / 2246.673) | |
= | 0.18801192 | / | 0.20838858 | |
= | 0.9022 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
= | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) | |
= | (1743.517 / 2246.673) | / | (2141.405 / 2720.402) | |
= | 0.77604395 | / | 0.78716491 | |
= | 0.9859 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
= | (1 - (3246.07 + 284.399) / 3694.032) | / | (1 - (2663.711 + 195.934) / 2885.646) | |
= | 0.04427763 | / | 0.00901046 | |
= | 4.914 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
SGI | = | Sales_t | / | Sales_t-1 |
= | Revenue_t | / | Revenue_t-1 | |
= | 2720.402 | / | 2246.673 | |
= | 1.2109 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
= | (30.294 / (30.294 + 195.934)) | / | (30.318 / (30.318 + 284.399)) | |
= | 0.13390915 | / | 0.09633417 | |
= | 1.39 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
= | (1045.817 / 2720.402) | / | (909.755 / 2246.673) | |
= | 0.38443473 | / | 0.40493432 | |
= | 0.9494 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
= | ((192.543 + 350.855) / 3694.032) | / | ((121.632 + 237.449) / 2885.646) | |
= | 0.1471016 | / | 0.12443695 | |
= | 1.1821 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
= | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t | |
= | (220.338 - 0 | - | 710.971) | / | 3694.032 | |
= | -0.1328 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Pinterest has a M-score of -1.44 signals that the company is likely to be a manipulator.
Thank you for viewing the detailed overview of Pinterest's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Acosta Andrea | officer: Chief Accounting Officer | C/O BIOMARIN PHARMACEUTICAL INC. 770 LINDARO ST SAN RAFAEL CA 94901 |
Gavini Naveen | officer: SVP, Products | 505 BRANNAN ST. SAN FRANCISCO CA 94107 |
Coleman Salaam | director | 505 BRANNAN ST. SAN FRANCISCO CA 94701 |
Wishom Andrea M | director | 651 BRANNAN ST. SAN FRANCISCO CA 94107 |
Reynolds Fredric G | director | CBS CORPORATION 51 WEST 52ND STREET NEW YORK NY 10019 |
Kilgore Leslie J | director | 100 WINCHESTER CIRCLE LOS GATOS CA 95032 |
Wilson L Michelle | director | PO BOX 81226 SEATTLE WA 98108-1226 |
Levine Jeremy S. | director | C/O BESSEMER VENTURE PARTNERS 1865 PALMER AVENUE LARCHMONT NY 10538 |
Rajaram Gokul | director | 301 CONGRESS AVENUE SUITE 700 AUSTIN TX 78701 |
Jordan Jeffrey D | director | 2865 SAND HILL ROAD #101 MENLO PARK CA 94025 |
Silbermann Benjamin | director, 10 percent owner, officer: Chairman, President, CEO, Co-F | 505 BRANNAN STREET SAN FRANCISCO CA 94107 |
Sharp Evan | director, officer: Co-Founder & Chief Design & Cr | 505 BRANNAN STREET SAN FRANCISCO CA 94107 |
Yang Tseli Lily | officer: Chief Accounting Officer | C/O MEDIVATION, INC. 525 MARKET ST., 36TH FLOOR SAN FRANCISCO CA 94105 |
Flores Christine | officer: General Counsel | 505 BRANNAN STREET SAN FRANCISCO CA 94107 |
Brougher Francoise | officer: Chief Operating Officer | 1455 MARKET STREET SUITE 600 SAN FRANCISCO CA 94103 |
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